The Alberta Securities Commission (ASC) has determined that Euston Capital Corp., its president and director George Schwartz, and various sales team members engaged in illegal trades and distributions in contravention of the Securities
Act.

The sale team members cited by the ACS are Harry Gray, Bill Tevruchte, Carlos Carvao, Brent Madinger, Peter Robinson and Jackie Thomas/

In its decision the ASC panel found that, except for Carvao, the individual respondents made misrepresentations or prohibited representations to investors.

In addition, the ASC panel determined that Euston Capital and Schwartz made misrepresentations in documents filed with the commission.

The ASC will schedule a hearing to consider sanctions.